Yahoo's Video Ambitions 'All But Dead'

A report from Variety said that Yahoo! Inc. (NASDAQ: YHOO) has decided to shut down its online video segment, Yahoo Screen.

Variety noted that Screen livestreamed an NFL game in October, offered clips of "Saturday Night Live," and aired the TV series "Community." Yahoo confirmed it will move its video properties to its many digital magazines.

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Commenting on Yahoo's decision to shut down Screen, The Verge suggested that there have been signs of Yahoo's video demise "for some time now" and the "death" of Yahoo Screen is "another dose of bad news for the struggling tech giant."

The publication pointed out that Yahoo's decision to air "Community" contributed to a $42 million write down last year, while the one-time NFL game has seen "little else come of the partnership."

Finally, The Verge suggested that Yahoo's video ambitions are now "all but dead."

Shares closed Monday at $31.40, down 5.6 percent.